Bitcoin and Other Cryptocurrencies in Our Lives: ForkLog Survey Results
This year, 3,015 people participated in ForkLog’s survey “Bitcoin and Other Cryptocurrencies in Our Lives”. We summarise the results and explain what our readers invest in, how many of them are miners, and for what purposes they use crypto assets.
Reader Profile
The vast majority of ForkLog readers are men. Nearly half live in Russia, Ukraine residents account for 30.5% of the audience, with Belarus ranking third.
About 41% of respondents are aged 26 to 35 years old.
Almost half of the respondents rated their income level as average, 20% as above average and 26% as low. 6% indicated a high income level.
22% of readers are involved in the blockchain and cryptocurrency business, nearly 17% plan to get involved. Almost 21% of respondents are entrepreneurs in another field.
About 7% learned about cryptocurrencies in the early years of their existence. The highest percentage is among those who became interested in Bitcoin at the time of its sharp price rise in 2016-2017. Readers who learned about crypto assets only in 2021 accounted for 6.6% of respondents.
Reader Wallets
Almost 87% of respondents own cryptocurrencies. Among those who bought or received crypto assets, 32% became owners in 2016–2017, around 27% in the range between 2018 and 2020, 24% this year.
The most popular assets remain Bitcoin and Ethereum, with Binance Coin in third place.
In 2021, cryptocurrencies brought income to the vast majority of surveyed investors.
81% of survey participants view cryptocurrencies as a means of long-term investment, 42% use them for trading.
Anonymity
The majority of respondents do not use privacy-focused coins or mixers for Bitcoin transactions, nor do they use the Tor browser.
34% of respondents use VPNs; the remaining 66% do not.
Mining and Staking
Among the survey participants, 18% are involved in mining cryptocurrencies; most have never been miners.
More than half of respondents either participate in staking or did so in the past.
NFT and GameFi
In 2021, the NFT topic was at the height of popularity. Among participants, almost half either own such tokens or plan to acquire them. 47% do not have NFTs and do not plan to buy.
The most popular NFT marketplaces were OpenSea, Binance NFT and PancakeSwap. The majority of respondents do not use such platforms.
Another topic of the year was the growth of the GameFi industry. Nevertheless, among ForkLog’s survey participants, 35% did not interact with the segment, and 39% do not know what it is.
DeFi
The decentralized finance (DeFi) sector continued to grow in 2021. Among those surveyed, almost 42% invested in DeFi, another 25.5% plan to do so.
Just over a third of respondents invested in DeFi tokens, another 14% engage in yield farming, and almost 8% invested in companies involved in the sector’s development.
Among the most popular DeFi services named by participants were PancakeSwap, 1inch and Uniswap.
Trading
Nearly 66% trade cryptocurrencies, 50% say it is profitable. Another 16% plan to engage in crypto trading.
The majority trade on centralized exchanges, or combine them with decentralized ones. The most popular exchange among respondents is Binance. 70% trade on it.
Most respondents trade on Binance.
Almost 27% of those surveyed trade crypto derivatives.
Wallets
The most popular wallet turned out to be MetaMask. It is used by 39% of respondents.
26% use hardware wallets, with Ledger leading among them.
Investments
Almost 59% have never invested in ICOs, IEOs or IDOs. A quarter of those who have participated in such fundraising rounds have earned a profit.
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